Regardless what plan is followed, I do not believe Terra will be able to recover with Do Kwon being the face of the project. He should step down, leave completely, or at the very least take a silent role, and let the rest of the LFG team handle all of this. He made too many mistakes, likely privately, and definitely publicly (including burning goodwill with his toxic behavior on twitter), and even now ignores what the community is saying.
Revival Plan 3 - Forget the fork, forget the snapshot, forget the reset.
Buy back the tokens with all the reserves. Use your own money, borrow money.
Burn these tokens aswell as distribute to holders who lost UST or who were severely diluted by Luna increased supply.
I know we cannot get the supply back to what it was, and I know it will take time and money to get it down but this is the way that 99% of people want
A lot of damage has already been done. Your reputation and the companies reputation is virtually in tatters.
The only way to resurrect this is to save the Luna token by buying up the token, burning it and compensating holders who were affected the most, starting with the smallest wallets
Please don’t think about the fork or snapshot for one second longer
Nobody wants it, it will not be the success or a fraction of what you think it will be
Listen to what the people want if you want to have a future
You are absolutely right, I couldn’t find the words to explain this part but you said it perfectly. This proposal prioritizes projects (i.e. companies) over people (i.e. customers), he is trying to salvage the ecosystem so he can rebuild and rebrand at the expense of the rest of us.
I’ve experienced this playbook firsthand:
"core team from crash & burn project does not try to fix major issues of current platform or help users recover losses, instead abandons multi-year project within first week of crisis and creates new token, tries to sell new version with smoke and mirrors"
…and it doesn’t work, this path will lead to dismal outcome and teams and users will abandon platform in 3-6 months. He already knows this, he knows he doesn’t have trust of the community and that is why a key part of this proposal is to LOCK up tokens for 1 year. He is not making an effort or working hard or taking the steps necessary to earn back your trust to win your support again of your own free will, instead he’s issuing rusty handcuffs to his base and locking them to his new project, because Terra v2 needs users, but users do not need Terra v2, a platform they had never heard of and had no use for until this proposal made up its existence.
I would not voluntarily invest in any new Do Kwon project after what happened, as I learned that Do Kwon and team do not have the skills to mitigate risks of a project of this nature and magnitude, would you? If the answer is no, then ask yourself then who does this proposal really benefit in the next 12 months?
This proposal is not in the spirit of helping the community who are hurting now, who have rent and bills to pay now - but to ensure his new (not really well thought out) project lives at least 1 year.
Hello, i bought for 9k $ of UST before the crash on Binance, in the line : 25% - UST holders at the “Launch” snapshot - 10% unlocked at genesis, rest vested over 2 years thereafter. Am i considered as one of them and will i receive some new Luna directly on Binance ?
The new Revival Plan 2 does not take care of the interests of all Luna and UST victims, such as the Luna and UST holders of cosmos ecosystem They were providing liquidity in osmosiszone pool before the UST depegging event,and they simply could not remove liquidity immediately after the UST depegging event because it took 14 days to unbond from the osmosiszone pool, which resulted in them losing not only Luna and UST but also other assets.
New investors are no different than prior, yes its sad they lost money but if I buy another coin for less than joe a month ago that person shouldnt get less of a percentage of a token/coin
Luna is bigger than UST, if you fail you act and fix it you dont close up shop and start over every failure. This is x2 for you thinking people want to be part of the third strike when you couldnt fix strike 1 and 2 would be foolish.
*want to show your strength… burn this coin till the value returns